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Indian hospital operator Shalby's $79 mln IPO subscribed nearly three times

Reuters  |  MUMBAI 

(Reuters) - Indian hospital operator Ltd's initial public offering to raise 5.1 billion rupees ($79 million) was subscribed 2.8 times on the last day of the sale on Thursday.

Institutional investors bid for 4.5 times the number of shares reserved for them, while the retail portion was subscribed 2.93 times, data as of 6:00 PM (1230 GMT) showed.

The offer comprised a primary share sale of 4.8 billion rupees, while one of the existing shareholders was selling 1 million shares in the in a price range of 245 rupees to 248 rupees.

Edelweiss, IDFC Bank and IIFL Holdings are managing the

India has seen a record year for IPOs with more than $11 billion of initial share sales in 2017.

($1 = 64.5700 Indian rupees)

(Reporting by Devidutta Tripathy; Editing by Subhranshu Sahu)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 07 2017. 19:04 IST
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